The Standard and Poor's 500 fell 29 points, or 1.5 percent, to 1,935. The Nasdaq fell 69 points, or 1.6 percent, to 4,385.

Industrial production in Germany dropped the most in five years and the International Monetary Fund cut its outlook for global growth this year and next.

SodaStream plunged 22 percent after the company said it isn't winning over enough new customers in the U.S. General Motors dropped 6 percent after analysts at Morgan Stanley said the automaker's earnings will suffer as it invests in production.